'Middle Class Is Angry, Finance Minister Must Listen...': Mohandas Pai | Budget 2024

In less than a week, Modi 3.0’s maiden budget will be presented by Finance Minister Nirmala Sitharaman. In anticipation of a strong and enabling budget for the industry, bulls in the stock market have been pushing the Nifty 50 and Sensex to a new high rather frequently.

But there’s distress on the jobs front, the number of rich surrendering their Indian passports is likely to end at a figure higher than last. The middle class wants a break.

In the run-up to the budget, Mint has planned a series of interviews, stories, and panel discussions to ensure your voice reaches the government. Mint’s Budget 2024 coverage will culminate in an analysis of Nirmala Sitharaman’s 7th budget on budget day.

In this exclusive interview, Mohandas Pai, Chairman of Aarin Capital talks to Abhishek Singh, Deputy Editor, Mint about the industry, middle class, and startups’ expectations.

Watch the full interview tomorrow at 4pm only on Mint.

#mohandaspai #budget2024 #modigovernment #nirmalasitharaman #financeministernirmalasitharaman #incometaxslab #budgetexpectations #angeltax

Mint is an Indian financial daily newspaper published by HT Media. The Mint YT Channel brings you cutting edge analysis of the latest business news and financial news. With in-depth market coverage, explainers and expert opinions, we break down and simplify business news for you.

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[krishnendude]

There is tax terriorism in India on middle class. You pay 34% taxes on income then 28% gst on medicine and insurances and get nothing out of that if you loss your job. Horrible

[msycbuc]

Thanks to Mohandas ji speaking up for Middle class. All the hard working private sector salary class were taken for granted.

[viswanathanseshadri]

I am so glad Mr. Mohandas Pai spoke up for the middle class salaries class. Yes, I am angry. I see that every intransigent group and constituency gets their sops. But the middle class has gotten roundly ignored last 10 budgets. And they aren't listening. Which adds to the fury.

[MrRocrma]

Why we have 28% tax on bikes and cars on top of paying income tax where government can’t provide clean and easy public transportation to all !

[sandeepbehera]

Middle class is the victim of tax terrorism.

[TheBhargavsai]

Nirmala Sitaraman is not doing good job as FM. If BJP doesnt listen to People's pulse, it will lose next time. Saying this as BJP Supporter

[prsrinivasan]

Pai, sir, very correct. Nobody in the ruling party understands the difficulties faced by middle-class. The middle-class is greatly penalized and treated as most unfavorable class

[bhagwatithanvi]

Salaried class has no class as per politicians they are not farmer, dalit, pichada, obc, st, sc,minority then how can FM can give him any relief.

[rishi]

Unfortunately, FM is arrogant and the PM has a different agenda..

It's a shame when you see a responsible cabinet minister shamelessly laughing at the plight of the citizens.

Middle class is free to decide who to vote for, only that it doesn't acutally count.

[Jitendra]

This FM is killing the middle class in India. If this type of income tax structure continues then there will be two categories in our country by living standards. One is the rich class and the other is the poor class.

[V.Sudarshan]

This is the objective Mr Pai coming out with the right feelings of
the middle class. which had become rare in the last few years.

[ashoknr]

Thank you, Mr. Pai, for finally giving some voice to the middle class, who have been treated shabbily by the Modi government.

You are bang on about the middle class anger, and I see many getting disillusioned by the policies of this Finance Ministry, and most are very vocal about it.

This is a powerful class for sentiment amplification, while I hope it does not happen, the backlash against this government is imminent unless steps to alleviate their distress is taken with immediate effect.

[sandeepjnanesan]

Finally somebody speaking for middle class people.salute to you

[sanjaybhatnagar]

Pai is correct. Middle class has been really dealt with in a very shoddy manner.FM has no sensitiveness towards the plight of middle class. Worst FM ever we have been saddled with.

[rbchennuru]

I am feeling ashamed of supporting MODI for the last 2 decades. Here we have an insensitive / incompetent finance minister who has no idea of what a middle class life is ( She may also claim to be from middle class).
She belongs to a special category where wives and Husbands project diametrically opposite political philosophies and flourish.
I have been struggling to understand the format of AIS which looks more like Algebra. The best example of how to make a simple form into most complex, I am unable to decipher AIS which keeps on updating till....?
Form 16 was issued only one month ago, my auditor is in another city ( for job purpose i had to shift to another place).
For the last 3 decades i have been trying to understand what is accured interest on FDs & why TDS has to be paid on unpaid interest 🤔

Refusal by IT Dept to extend the Last Date for IT filing is the last straw on my back.

[manjithrai]

I m fed up paying income tax on my salary and we are not getting any direct benifits such as medical benifits, etc

[hiddendname]

Nirmala Sitaraman to middle class - Cunning smile and Thank you again this year for your contribution.

[bangalibangalore]

Mohandas Pai sir, you have my respect. All points are bang on, and we need to tell the harsh truth to the government, they have had their chance now they have to work

[prasadvkln]

Mr pai is the voice of the middle class.

[ganeshbhat]

Chidambaram is one FM who gave maximum relief for Middle Nirmala Sitaraman is the Worst of all....!!!!